Hammond Times, Volume 6, Number 255, Hammond, Lake County, 17 April 1912 — Page 19
THE TIMES.
THE ' REAL ESTATE SITUATION III HAHOi
Problems That Confront the Man Who Has Real Estate For Sale.
Hammond has never had a boom in real estate. Neither has It ever had serious deflation of valuer. It ' t. quite unnecessary to say that a deflation of values can ' only take place when there has been an Inflation. There is but one possible exception that could be taken to this statement and that is the case of what Is known as the "North Side" In Hammond. In the early history of the city a number of industries were located there as a result of the enterprise of M. M. "Towle and others but these soon rtifd out. The value of residential lots wc.vt as hifrh as $250 and business lots sold fr
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130 or $400. When these factories failed or were shut down realty valuta dropped and have remained st-itioiierv until the industrial activity in Ka.t Chcasro and Hegewisch and Bumlvcr made this section of the city an lde.il pla.ee for homesltes and values t lie re are now rapidly rising. GOES THROUGH TEST. But this affected only a small part of the city of Hammond. Tht part of It which lies south- of the river Hd never suffered from either inflation or deflation. There has been a steady increase in values which has made mv purchase in the city a good investment.
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' And Hammmond's realty values were given a severe test while it was becoming firmly established as an industrial city. It had a number of serious setbacks but realty values weri never disturbed. The unbounded faith in the future of the city was responsible for this. , The most severe test came when th" G. II. Hammond packing plant, which was then- Hammond's principal Industry, was absorbed by the beef trust and was moved to the stock yard district in Chicago. But with a determination that commendable. With a enthusiasm that was inspiring A. M. Turner, Fred Mott, W. F. Bridge, William H. GoBtlin and Peter W. Meyn, together with other? organised a commercial club and within six months had located the W. 1.1 Conkey Co., the F. S. Bets Co., the Reid-Murdoch Co.. the Knterprise Bed Co., the Fitzhugh L.uther Co. and a i number of snjaller concerns. . 1.SSE8 CRISIS. Hammond was not only saved from a tremendous setback' but it went for o
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ward with greater momentum than ever before. A. M. Turner and others raised $50,000 to $60,000 in subsidies for these concerns and induced the city to issue warrants for an additional $60,000. This was what saved Hammond. V It was an emergency hat had to be met with determination and fearlessness and Hammond had business men with ability and the resource to meet It. Since those critical times Hammond has grown remarkably. It has built substantially. There, has been a steady increase in values and even in the panic of 1907 there was so much connaence tn tne city mat there was a large amount of building activity, real estate sold reasonably well and the merchants found little cause for complaint. ' STANDARD COMES. The locating of the Standard Steel Co. promoted a healthy real estate ac tivity but the conservatism of the people prevailed and no one went Into conniptions over the fact that 5,500
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men would eventually be employed.
In the meantime additional subdivi sions were laid out and sold. Sold, not to outside speculators on exagger ated representations, but to the people of the community. It is safe to say that 90 per cent of the sales were to the citizens of the city who either built or are contem plating the building of homes. There is probably a larger proportion of the people of Hammond own their own homes than any other city of the region. This makes for good citizenship and better labor conditions. And in the meantime Hammond developed into a fine residential city. The purchase and improvement of Harrison Fark proved to be the making of Homewood which is unquestionably the finest residential district in the city. SOCIAL DEVELOPMENT. Street and public utility improvements were put through so that Ham mond is today the best residential city in the region. Its great diversity of email industries brought men' of
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calibre to the city who have furthered it progress and aided In Its upbuilding. Very little of the real estate of Ham
mond Is owned by non-residents. Jts Industrial development has been as rapid as could be desired and will be more rapid in the future. Flans are under way for the creation of a new Industrial district along the Calumet river from Columbia avenue in Hammond to Kennedy avenue in East Chicago. jne cuy nas oeveiopea socially so that Its clubs and fraternal societies are either now housed in homes of their own or are planning to build this summer. Its ln-town country club Is to be one of Its greatest as sets. This Is a feature that will at tract scores of the better class of peo ple to Hammond In preference to any other city. HAMMOND DIFFERENT. These things made the real estate situation in Hammond different from that of any other city. There is little speculation and much substantial de velopment. The lack of speculation keeps out much foreign capital that would come in and aid in the development of the city but non-resident property owners are not always desirable. " ' f Hammond's great advantage lies !n its perfect transportation facilities.
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No jpther city In the region has better
means of getting In and out of th4 city. It is the logical market for tha down country farmer and he pa tronizes Hammond's stores. The department stores In Hammond are, consequently, far In advance of any In the region. There Is more local wealth in Hammond than In any other- city in the region. Hammond Is the banking center of the region. So that while the other cities can boast of their, tremendous industrial activity, Hammond is building more slowlj' and more substantially. It has much potential development In store, however. With the Improvement of the Indiana Harbor canal Hammond will have, several miles of dockage that will In Ideal for manufacturing sites. The development of Wolf Lake an a hari bor will give Hammond an. mue'i prestige as Gary got from Its steel mills and Indiana Harbor got from H-5 canal and harbor. Gary and Eist Chicago may treble their population tn the next ten years. Hammond will be content to double its in the same time. A FEW DIMES FOR CAR FARE OR POSTAGE IF YOU'RE ANSWERIXO ADS. A FEW DIMES FOR TOUR OWN "WANT," IF YOU'RE ADVERTISING IN THE TIMES AND THE USUAL RR. ULT IS A JOB.